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DavidMm's Posts

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PoliticsRe: DISBANDMENT OF HISBAH Corps--stepping Up To The Plate! by DavidMm(op):
Shari'a stopped being a customary law when it was codified into a legal framework that acts as a parallel penal codes alongside the Nigerian criminal codes starting in 1999, and it's in breach of section 10 of the constitution.

badthinds:
SHARIA LAW IS NOT A CUSTOMARY LAW. It claws every aspect of the general law and rights in Nigeria, not just the north.

Here's a small example of the effect of Sharia law on the Nigerian economy:

- Alcohol Ban, Full VAT Share ... Sharia states ban alcohol but get VAT from it.

- Destroy Goods, Take Tax... They seize alcohol yet share its VAT.

- Lagos Pays for North... Lagos funds Sharia states via VAT.

- Fixed Northern Fund... VAT supports NEDC despite zero local input.

- Policy Creates Dependency... Bans cut revenue; federal funds fill gap.

You see, sharia law is light years ahead of other customary laws. Actually, it is not a customary law as it's scope is wider. And the radicality of those who uphold it is light years of vawulance ahead of the radicality of other customs.

While you deceive yourself that sharia is customary, those who know what's going on in the background understand that Sharia is a Nigerian law, and totally NOT customary. That's what they make you believe while they laugh at you behind the scenes.

Dey Play. No worry.
PoliticsRe: DISBANDMENT OF HISBAH Corps--stepping Up To The Plate! by DavidMm(op): 1:02pm On Nov 07, 2025
It's actually not about protestation at this point. Yes, it might be what the people of Kano want, just as the people of Abia might want a Biafra nation. It is a matter of what is right under the law, succession is illegal just as running a parallel legal framework is illegal under the current constitution,

What I expect is the states, most especially the predominantly Christian states to institute a court case challenging the legality of the Sharia law. The Federating states are suppose to be the checks on each other's excesses when the Federal Government fails to act.

Just because you can get a law violates the rights of the people as granted by the constitution, through your house of Assembly doesn't make it legal.

DomPerignon:
Go and protest in Kano that they should rescind sharia law.
PoliticsDISBANDMENT OF HISBAH Corps--stepping Up To The Plate! by DavidMm(op): 4:41am On Nov 07, 2025
While I do not know how we will undo the constitutional anomaly of having a "country within a country", that the extension of Sharia law beyond civil into criminal matters created; The Presidency, through the ONSA should immediately order the disbandment of all HISBAH Corps in all the 12 Northern States that have adopted Sharia Law for the reasons below.


1. Enforcement of Shari'a on Non-Muslims

While Shari'a penal codes in Nigeria are theoretically only applicable to Muslims, Hisbah brigades have been documented attempting to enforce aspects of the law on non-Muslims, including Christians.

Morality and Dress Codes: Christians, particularly women, have reported being harassed and stopped by Hisbah officers for allegedly not conforming to Islamic dress or moral codes while in public spaces. In some cases, they are reportedly told to dress like Muslims.

Alcohol Ban: The Hisbah often strictly enforces the state-wide ban on the sale and consumption of alcohol, which disproportionately affects Christians and other non-Muslim communities who consume it. They have carried out raids in non-Muslim areas.

Public Activities: Hisbah has attempted to disrupt or ban public gatherings or rallies organized by non-Muslim groups, viewing them as "un-Islamic."

.
2. Creating an Environment of Fear and Secondary Citizenship

The presence and activities of the Hisbah contribute to an overall sense of being treated as second-class citizens among Christians in the region.

Informal Authority: While the Hisbah's legal jurisdiction is often limited, their presence as a state-sanctioned morality police creates a chilling effect, where Christians and other minorities feel compelled to comply with Islamic precepts out of fear of harassment, arrest, or detention, even when such actions are beyond the Hisbah's legal authority.

The Hisbah have become a prosecutorial force for both Christians and non muslims in these states. And as such, the Federal Government ought to show the world that they capable of stepping in to right a wrong, if state and local policies becomes discriminatory, and or, prosecutory for a segment of the population.
PoliticsRe: NSA Ribadu, Service Chiefs Meet Over Trump's Military Threat by DavidMm: 5:10pm On Nov 03, 2025
When people refuse to act or do the right out of fear or lack of political will, this is what happens. This whole thing started in 1999--October 1999 to be precise, This was when the presidency and the office of the Attorney General allowed the then Governor of Zamfara State to introduce Sharia Law into the country contrary to the provisions of section 10 of the constitution of the Federal Republic of Nigeria.

Former President Obasanjo, Attorney General Agabi and other stakeholders in the country aka lawmakers, governors and states' attorneys general sat on their hands rather than challenging both the federal government inaction, as well as the state of Zamfara for breach of the constitution. I hope this challenge to our sovereignty would be a wake up call to our elected officials.

Also, for all the politicians, most especially Northern politician, trying to stir up unrest going into election season, hoping for a repeat of 2015 at the ballot boxes, congratulations! You have successfully opened the Pandora's box of critical national dialogue and would soon know what true federalism is.

#ForwardEver#NeverGoingBack
PoliticsRe: Alleged lopsided projects: Is Tinubu President of Nigeria or Lagos? - Yakassai by DavidMm: 3:36pm On Aug 02, 2025
So in this one's myopic and warped mind, the rehabilitation of a MMIA is a "Lagos" project! The Lagos-Calabar Coastal highway that will connect Lagos, Ogun, Ondo, Edo, Delta, Bayelsa, Rivers, and Akwa Ibom states ( SW-SS), is a Lagos project? The Badagry-Sokoto Highway will connect seven states across 3 of the 6 geopolitical zones namely SW,NC, NW, yet this one wants us to believe it's a "Lagos" project! So if a project doesn't start and end in your hometown, it must be a Lagos project.

It's about time you all stop projecting your biases onto PBAT.

#ForwardEver
PoliticsRe: President Tinubu Has No Pathway To Win In 2027 - El Rufai by DavidMm:
And there it is; the theme you guys are seeking to make this election about! Well, I hate to break it to you, this election is not going to be about the North Vs the South. El Rufai is not the North, rather another disgruntled politician that can't breathe outside the corridors of power. The real North knows that they will have their turn in 2031. The ones seeking power in 2027 are those that are willing to set the roof of their father's house on fire, because they didn't get their choice bedroom in the same house! And I believe they are commonly referred to as the "bastards of the family"

PBAT stood by Buhari through thick and thin to get him reelected in 2019, after the way he was treated. Remember the " belong to everybody and belong to nobody"? Or have you all forgotten how you were celebrating how PBAT influences were being curtailed by the cabal? Yet the same PBAT went all out to make sure PMB got re-elected. The true north knows what loyalty means, not all these "online forum Northerners", with fake monikers that wouldn't know what loyalty is, even if it hits them smack in the face!

#ForwardEver#NeverGoingBackwards

AMINDA:
Elrufai was not on the ballot and he wouldn't rig just to deliver Tinubu. Inspite of how unpopular Tinubu was in 2023, he got 399k to Atiku's 499k to win Kaduna due to the efforts of Elrufai. Despite Kwankwaso and Obi also getting substantial votes in Kaduna as well. Elrufai's contribution to Tinubu's election extended beyond Kaduna which is not a homogeneous Northern state like say, Kano. Show me any Southwest state asides Lagos that delivered a higher margin of votes to Tinubu than what he got in Kaduna. This ungratefulness by the Southwest APC is why the North will now back their own son in 2027 with their full chest. The Southwest have clearly shown that no good deed goes unpunished.
PoliticsRe: President Tinubu Has No Pathway To Win In 2027 - El Rufai by DavidMm: 1:57pm On Jul 20, 2025
EL-Rufai, the accidental politician thinking himself "King in the North" of some sort. We will all be here when your true worth is revealed come 2027. PMB might be gone, but someone please remind this guy he's no Buhari! Someone that can't even deliver his LGA in the state he governed for 2 terms, is here making predictions.

#ForwardEver#NeverGoingBackwards
PoliticsRe: If you Like Turn Your ADC To AAC, you aren't winning, Tinubu will win - Lege(vid by DavidMm:
They are about to be taught a lesson in politics. There is no vacancy in Aso Rock, they can try again in 2031.
PoliticsRe: Coalition Started Plotting Tinubu's Removal 6mnths Into His Administration- Wike by DavidMm: 2:44pm On Jul 06, 2025
No, Emiefele and previous administration brought hardship to Nigerians long before Tinubu became president! You guys talk about "barely surviving" with such nostalgia as if everyone was thriving in the old economy. An economy that couldn't employ over 95% of new graduates and less the 10% of eligible workforce as an economy! Wake up and see with your own eyes and listen with your own ears! "You see the old way wasn't working so it's on us to do what we gotta do to survive,"[~~T. Amaru Shakur Let's give the new way a chance to take us to a greater height. No country survives that employs less than 20% of its eligible workforce !quote author=DonBenny77 post=136004400]Tinubu brought Nigerians hardship few days into his administration...[/quote]#ForwardEver #NeverGoingBack#NoToPowerMongers
PoliticsRe: Presidential Tickets Are Not Given, They Are Contested For - Paul Ibe by DavidMm: 2:34pm On Jul 06, 2025
Point of correction, No he wasn't given the ticket, rather he beat the entire field into submission and won the ticket! But I do see your point.sadly, HE Atiku is not in the coalition to play the role of an elder statesman but to win the ticket
Nackzy:
Have you ever heard of the word emilokan, he was given
PoliticsRe: Compare Aregbesola To Tunji-ojo As Interior Minister - Wike Mocks Coalition by DavidMm: 2:21pm On Jul 06, 2025
@SeunOkinbaloye ought to know that he who comes to equity must come with clean hands and that in politics and life in general, antecedents matter! If a group of people are coming to you saying they are going to rescue you, you have a right to know of their history! A coalition of a group of people that are part and parcel of the problems we have now, are hardly the same set the people will look unto to solve the problems!

Please let me ask you all this question? What is Ovation's annual Revenue? How many people are currently in Ovation's or Momodu's Employment?

2027 election is a watershed moment for our nation, will never allow these power reins saying whatever to cajole the public into entrusting them with our common destiny as a nation! PBAT has done the needful to reposition this great nation, we are now on the path to attaining greatness. We will never hand over our country to these lots.

#ForwardEver #NeverGoingBack #NoToPowerFeins
PoliticsRe: Tinubu Can Only Be Countered This Time By A Northerner - Dele Momodu(vid) by DavidMm: 10:35pm On Jul 05, 2025
And just like that they have lit the detonating cord and triggered the implosion of the coalition. The talking point of how they are going to hand Atiku the ticket of the coalition party has begun. Question is what is PO and the Obidients going to do about it? As stated earlier, see you all in 2031 because 2027 is done and dusted.

#ForwardEver #NeverGoingBack
PoliticsRe: Adamawa Government Strips Atiku Abubakar Of Waziri Adamawa Title by DavidMm: 11:40pm On Jun 24, 2025
The Waziri Adamawa, like the biblical Saul refuses to let go of the crown that has been taken away from him, and now it is being publicly torn from his grasp. When you occupy a position of an elder statesman, yet two decades after occupying the 2nd highest political office in the nation, you are busy meddling in local politics, all in the name of a futile ambition, this is what you get.



#ForwardEver
PoliticsRe: Tinubu's Administration, The Worst In Nigeria's History - Nasir El-Rufai by DavidMm: 10:19pm On Jun 23, 2025
Says a man that took a peaceful state and turn into a religious minefield. Let's not be deceived or confused by the temporary hardship that is as a result of the bold economic initiatives of this administration frustrate us into turning to men like El Rufai. Kaduna is a microcosm of Nigeria's religious composition, in 8 years, this man turn neighbors against each other unprovoked. Go and ask the people of Southern Kaduna what this man's 2 terms in office wrought them;

Nigeria Vs Kaduna


National Religious Demographics of Nigeria:

Nigeria as a whole is almost evenly split between Islam and Christianity.
Estimates vary slightly, but generally, around 50-53.5% of the population is Muslim, and 45.9-48.1% is Christian.
A small percentage (around 0.3-1.9%) adheres to traditional African religions or other faiths.
Geographically, the north of Nigeria is predominantly Muslim, while the south is predominantly Christian. The "Middle Belt" (where Kaduna is located) is a mix of both.

Religious Demographics of Kaduna State:

Kaduna State is known for having a near-even split between Muslims and Christians, with both groups constituting roughly 49-50% of the population.
This makes Kaduna unique compared to many other northern states, which are overwhelmingly Muslim.
Muslims are generally concentrated in the northern parts of the state, while Christians are more prevalent in the south.


My people, this man's antecedents are well documented and known to the world. This man must never be allowed to wield any political power in our nation ever again.

#ForwardEver
PoliticsRe: Southern Politicians Also Key To Atiku’s Coalition- Baba-Ahmed by DavidMm: 4:08pm On Jun 23, 2025
To them it's never been about what they can do for the country, rather what the country can do for them! it was barely 2 years their fellow northerner left office and they are acting as if they have never occupied that office in an entire generation. Their ploy is clear to everyone now and we are never falling for their antics again. Cry all they want, Power will rotate back to the North in 2031, and to a capable northerner, not these lots that have failed at managing their households, failed at managing LGA, State and their political parties!


#ForwardEver
PoliticsRe: Tinubu, Kalu, Praised For Enlarging Access To Tertiary Education For Igbos by DavidMm: 7:22pm On Jun 17, 2025
"They say a midget standing on a giant's shoulders can see much further than the giant. PBAT's got the whole nextgen leaders on his shoulders, urging them to see further than he can." (Jay-Z ~Hovi Baby).

BOK is silently looking ahead, shunning the politics of hate and retrogression and embracing the call to nation building.

#ForwardEver
InvestmentRe: If You Invested ₦1,000,000 On 30 May 2023 In The Nigerian Stock Market by DavidMm: 3:47pm On Jun 03, 2025
12inchess:
You seem to be very knowledgeable. So does this number beat Naira depreciation?
Yes. Using $461/$1 average as at may 2023 and using N1600/$1 average rate today and a $100 investment;

$100(N461/$1)=46,100 N/N2.23per share=20,673 shares (approximately)
20,673 shares* N10.75/share=N222,235/N1600/$1=$139 (approximately)

So a $39 return on your $100 investment. 39% ROI. Not accounting for fees and related charges.
PoliticsRe: Kalu Defends Wearing "Tinubu 2027" To Senate Says “it’s Fashionable, Made In Aba by DavidMm: 1:14pm On Jun 03, 2025
Carry go my very own oga! This is no time to sit on the fence, before the coalition of the frustrated claim you are behind them. Every elected leader must take a stand between regression or progression. Our very own BOK is leading the charge and ready to assume leadership if you don't want to be left behind, better show up and make your presence known.

#ForwardEver #NotGoingBack #NoTOPowerFeins
InvestmentRe: If You Invested ₦1,000,000 On 30 May 2023 In The Nigerian Stock Market by DavidMm:
Elose11:
At the beginning of 2025, Transcorp rebased their shares by dividing the shares by four. The technicalities involved in this I cannot explain as i am not an economist. But if your shares was 1m before, it will come down to 250,000. So by your analysis, the 313.5k shares had come down to 78.25k. by the time you multiply that by the current share price of N43, you will get N3.37m, not N13.4m,
They implemented a 1:4 Reverse stock split in 4th quarter of last year (reduced their total number of shares by a factor of 4). While the current price is significantly higher than the pre split price, it is the pre split price of 4 combine shares. The truth is that they seem to have actually lost value given the opening price post reverse split was N44 and current trading price is below that. They were trading at N11 or thereabout just before the reverse split.

May 1st 2023; price was N2.23 now it's right around N10.75 (N43/4). so the actual return is more like 3.8x. So a N1,000,000.00 invested in May 2023 would be around N4,800,000.00 today.

I am certain they didn't mean to mislead with this data, but always remember that data devoid of context can be misleading!
PoliticsRe: We Have Allowed "Urban Bandits" take Control Of Nigeria's Leadership - El-Rufai by DavidMm: 4:10pm On Jun 01, 2025
El Rufai is finding it difficult to cope outside the corridors of power. The same man that lorded it over Kaduna State for 8 good years with no single achievement to point to, is now calling on Nigerians to join him in rescuing the country. What an irony! What people is Mallam El Rufai asking to join him?

Please ask El Rufai to tell us his achievements as the Governor of Kaduna for 8 years. Ask him to tell the world what happened to southern Kaduna under his watch. Ask him to tell us about the peaceful state he inherited and the state of unrest he requested to Governor Sani.

The one thing we can all agree upon is that never again would our dear country be govern by people like El Rufai! Never again will ethnoreligious bigots like him be given the tools of governance to further their agenda and propagate ethnic and religious violence on our people. Nigeria will once again reject El Rufai for what he is.

And to all those associating with him in search of power after everything about him has been laid bare in a security report, be rest assured that Nigerians will reject you too.

#ForwardEver #NeverGoingBAck #NoToPowerFeins
PoliticsRe: Opposition Coalition Move To Register New Party As Stakeholders Abandon ADC, SDP by DavidMm: 2:00pm On Jun 01, 2025
Mr. SPV at it again! I hope they've all been read in on the purpose of their venture! Just in case they haven't: HE Atiku is only in it for himself, you all will be working tirelessly to build a platform for him to run on. Anything short of that, you can count him out.



[b]#ForwardEver #NeverGoingBack #NoToPowerFeins[/b]
PoliticsRe: I Told Tinubu I Won’t Vote For Him – Amaechi by DavidMm:
it is funny how these lot complain about failed leadership forgetting that they were the same sets of leaders in the failed leadership! From Atiku to Obi to El Rufai and now Amaechi! Take Amaechi for instant, Speaker of the Rivers State HOA from 1999-2007 (#3 position but really 2nd only to governor in state politics, iykyk), Governor of Rivers State 2007-2015 ( numero Uno during the oil boom and when governors where emperors of their domain), Minister of Transportation from 2015-2022. That's 23 years at the highest level of both State's and Federal Government!

If you were part of a system for 23 out of 25 years, are you truly in a position to question that system? Are you truly an outsider of that system? Are you the messiah that will clean up the system you helped built and sustained? Don't be fooled again by their lot, they are saying anything to get back to power. Like Atiku and El Rufai so is Amaechi!! They will say anything to get back to power. Less than 2 years outside the corridors of power and they are willing to re write history and cast themselves the outsiders coming to drain the swamp. Pathetic parasitic lots that cannot breathe outside the corridors of power. Like a dope fein, they will say anything to get another hit of power.

#ForwardEver #SayNoToPowerFeins'
PoliticsRe: Nigerian Voters, Not Governors Will Decide Tinubu’s Fate In 2027 – Wabara by DavidMm: 3:13pm On May 24, 2025
"Nigeria will be Industrialized whatever it takes" those are the words of Mr President and y'all can bank on that! A nation of 200 million plus people, blessed with abundance of natural resources, cannot continue to only survive, but must thrive for now and the future. No one asks how China got to be the manufacturing capital of the world. Singapore, Thailand, Malaysia did it. UAE, Saudi Arabia did it! Each did it their own way, it's Nigeria's turn to do it. Get with it or get out of the way. This train is not stopping for anyone

#ForwardEver #NeverGoingBack
PoliticsRe: 2027: SDP Not Part Of Any Coalition With El-Rufai – Ex-Presidential Candidate by DavidMm: 2:03pm On May 22, 2025
This nothing but a coalition of individuals looking for a political party on whose platform they will contest the 2027 election. As it stands, none of them has clear control of any political party that they can bring into a coalition.

PBAT has laid the foundation for a prosperous and equitable Nigeria. The dust has settled, and the pillars of the new economy--one befitting of the most populous African Nation , blessed with both natural and Human resources--are visibly ready to receive the blocks. This is no time for jokers, each individually too self important, and collectively too myopic to build a true coalition, let alone nation build. Because we all know coalition is built on the alter of personal sacrifices while a nation on accumulated intergenerational sacrifices.

The Nigerian people have once again, under the leadership of PBAT made the sacrifices needed for nation building. This is not the time to bring in another sets of time wasters. 2027 is for consolidation not dissolution.


#ForwardEver #WeNeverGoingBack!
PoliticsRe: North West APC Govs, Stakeholders endorse Bola Tinubu For Second Term (Photos) by DavidMm: 12:42am On May 18, 2025
Someone please tell Baba-Ahmed that it is not going to be a North Vs South come 2027; It's going to be all Nigerians saying no to backwards politics, and Yes to Progress!

#ForwardEver #NeverGoingBack
PoliticsRe: US Dollar-Naira Exchange Rate — The Last 5 CBN Governors By StatiSense by DavidMm: 3:48pm On May 15, 2025
Apologies for not including a disclaimer. Here you go: "Primary 5 level reading and comprehension skills needed to understand the write up"[b][/b].

blueAgent:
Paid urchins

Gibberish
PoliticsRe: US Dollar-Naira Exchange Rate — The Last 5 CBN Governors By StatiSense by DavidMm: 1:56pm On May 15, 2025
The saying goes "the farther into a rabbit hole you go, the harder it is to get out". That is exactly the situation of our country at the moment. The most agonizing part of it all, is that masses that got zilch in the process that got us into the hole are the same that would pay the price to get us out.

That said, that the Naira is weaker than the CFA is one;year bad because we are neither a manufacturing country, due to years of wasting money defending a pegged Naira, and the fact that we have not been able to secure our borders from smuggling activities, due also to lack of investment in infrastructure (Military/policing) and corruption. With adequate investment and time; all of those countries' supply chain would run through Nigeria's manufacturing first before France or China. And it's a good thing that our products would be affordable for them.

Currency devaluation is a tool that sparks economic activities and creates jobs directly and indirectly at the expense of trading partners. If not for years of neglect and if we did actually purposely devalued our currency, countries like Togo and Ghana would have already approached the WTO for unfair trade practices vis-a-vis currency manipulation right about now. The truth is there was no devaluation but rather a true reflection of the state of our economy when the subsidy was removed from the exchange rate. The rate truly reflect what we were--a country that uses all its earnings from a single source (crude oil) to import almost everything including things a s basic as food.

Lanruze:
I am not condemning your write-up at all.

It makes very valid sense especially the part where you anlaysed the 1/3 of the currency being the real value and the remaining 2/3 being the subsidies value.

Very Apt with a blow by blow summary of valid and genius points.

However, don't blindly defend information you dont have a full grasp of especially a country like Nigeria.

1, The current value of the Naira is intentionally being maintained to create a money illusion not the floating or market forces you think you are at play. It's not just a national embarssmebt and shame that CFA zone countries like Niger, Benin Republic, Cameroun etc have thier currencies x 3 of our Naira.

In recorded history, Nigerian Naira has never been lower than the CFA or even smaller countries like Ghana, never !

The Devaluation has created so much illusionary money for Government that the PBAT Government benchmarked it budget to a shameful $1-N1500. Petroleum Tax, Royalties and Import duties are at an all time high because of this illusion.

2, Countries all over the World have a very strategic approach to its Currency Management and FX reserves.

No sane nation leaves its currency to Market forces to determine its daily value! No where in the world.

An example is the United State stating its moving it's FX strategic reserves from currency to another asset class - Crypto Currency with a 30-40% investment projection.

The USA is also planning to strategically devalue its currency ($) to make American exports more attractive to it's major trading partners with a projected improvement in income revenues.
PoliticsRe: US Dollar-Naira Exchange Rate — The Last 5 CBN Governors By StatiSense by DavidMm: 1:27pm On May 15, 2025
CodeTemplarr:
You started off with valid arguments then skillfully veered off into sinister things. Not impressed.
Facts aren't meant to impress, they are just facts! We have a category of people that are waxing nostalgic about an economy that never really worked for everyone. Or how do you explain the ridiculous rate of unemployment? The state of the infrastructure? Yet a few made bank off the arbitrage inherent in the official vs actual rate of the fx, solely because the government kept prioritizing the exchange rate over the real economy. For all those think exchange rate is the only measure of an economy should go check out the $/KRW rate and their economy.
PoliticsRe: US Dollar-Naira Exchange Rate — The Last 5 CBN Governors By StatiSense by DavidMm: 12:27pm On May 15, 2025
I see two main reasons for the state of our economy prior to this administration. This is why the country's infrastructure was in such a horrendous state of disrepair. It's also why the economy only worked for a select few, not everyone. This explains the massive unemployment and underemployment we saw across the country, and why we had billionaire industrialists without actual industries.

When leadership thinks of the economy only in relation to the FX rate, they tend to spend money meant for capital expenditure defending a pegged value for the dollar against the Naira. When they peg the rate, rather than allowing market forces (the float) to determine it, they invariably tilt the economy in favor of a few over the many, inadvertently encouraging corrupt practices.

Let's simplify things by taking the end of Emefiele's tenure at roughly N500/$1 (pegged) and the current value at approximately N1500/$1 (floated). With the FX rate pegged under Emefiele and floated under Cardoso, the pegged-to-floated ratio is roughly 1 to 3. The Pegged Rate (PR) is what the government, through the CBN, charged you for $1, while the Floated Rate (FR) is closer to the actual cost for the government, through the CBN, to get you that $1. So, a PR/FR value of 1/3 means you only paid one-third of the dollar's cost, and the government covered the remaining two-thirds.

Without wanting to start a class war, I believe this system resulted in the rich taking far more than their fair share of the national wealth. Think about it: for every iPhone, Ferrari, or Tom Ford item imported, the government effectively paid two-thirds of the actual cost. For every 'Bone straight' weave, the government, via the CBN, covered two-thirds of the cost. For a $60,000/year NYU tuition for the children of the rich, the government, through the CBN via Form A, paid $40,000 annually, leaving the parent to pay only $20,000. For every luxury car bought by a Senator, whether in or out of office, the federal government paid for two-thirds of the actual cost. Meanwhile, lecturers were striking over unpaid salaries, and university Vice-Chancellors were told to find ways to generate revenue. Why? Because critical government expenditures like the FX subsidy, much like the fuel subsidy, were deducted before remittances were made to the federation account.

Have you ever wondered where all our oil money went? Well, I believe much of it was used to pay foreign school fees for the children of the already wealthy. It subsidized mansions in Dubai for figures like Atiku and others. It helped buy luxury cars. It facilitated the purchase of gold-plated iPhones for the ultra-rich. Essentially, it was converted into the private wealth of millionaires through arbitrage from FX round-tripping.

To all the hardworking Nigerians who have felt neglected by the economy for generations, I urge you to be very wary of any "rich man" trying to mobilize you to fight against the current hardship. You are not fighting the same battle. They aren't fighting for better roads; they're fighting for the government to keep subsidizing their bulletproof Prado Jeeps. They aren't fighting for better schools; they're fighting for the continuous subsidy on out-of-state tuition at places like UCLA. They aren't fighting for better-equipped hospitals; they're fighting for the subsidy on their next yearly physical at clinics like Mayo. They definitely aren't fighting to create jobs for your children; they're fighting for the return of arbitrage from round-tripping. And they are certainly not fighting for more housing for the unhoused, but for the subsidization of mortgage payments and services on their properties in places like Dubai, Monaco, Tuscany, and Los Angeles.

Don't let sponsored agents using data deceive and mislead you. I believe this government is genuinely focused on building an economy that works for the many, not just the few. They are focused on solving the unemployment and underemployment issues facing our large workforce. I feel this government is sincere in its commitment to providing a brighter future for all Nigerians. Progress undeniably requires sacrifice. Yes, the masses disproportionately bear the burdens of development in any society, but for the first time in a long time, I feel we have a government committed to ensuring that these sacrifices will not be in vain.

#ForwardEver #NeverGoingBack #NationalRebirth
PoliticsRe: Tinubu Welcomes New Investment Initiatives From Qatar by DavidMm: 5:43pm On May 13, 2025
I told all the nay sayers, it's about to be a season of gbas gbos gbas! The heavy lifting has been done. The bottom is in! There's only one way from here on out. The foundation of the new economy has been laid, over 180 feet deep and the world knows about it now. The era of spending tons of money wooing FDI, to help build a skyscraper on a foundation made for bungalow is over. An economy that works for a population of over 200 million, like a skyscraper, can only be built on the a foundation engineered for such.

#ForwardEver
PoliticsRe: ‘scrutiny Frightens Them’ — Utomi Slams APC Over ‘drama King’ Moniker by DavidMm: 11:25am On May 10, 2025
EponObi:
It's too early to dey gba bro cheesy

For Utomi, no government in the world will allow "a shadow government". If you did that in China, you for don meet your maker by now. Even you, if you were president, you won't allow any shadow government. So the government calling you a drama king is them being lenient with you. If dem arrest you now, people will be saying all sort of nonsense without applying logic. Criticize the government if you want; in fact, form a panel of critiques - dem Sunday Dare and co will engage you. But no one will smile with you with your shadow government plan. It's quite funny sha; this Utomi dude is well educated and well exposed. He knew what he's doing won't fly in saner clime but here he is pandering to the G&H cheesy


G&H mean Gullible & Hungry if you don't know btw cheesy
Don't forget to add "Useful Idiots" to it. It's a shame the astute professor has become a useful idiot in the hands of the naysayers. They want to use him to provoke a reaction from the PBAT administration. They know any reactionary government would have filled charges against each and every member of the so called shadow government by now. So they can change the narrative and start calling for the return of the military. PBAT is anything but reactionary. Leaders are both visionary and proactive; so their antics are and will always be duds.

At Prof; Please retrace your steps. Refuse to become a tool in the hands of those that would rather burn the house down rather than accept they've been bettered. Find more direct ways to promulgate your vision--Op-eds, Podcasts, Town halls. You are an accomplished intellectual that wouldn't give a hoot if your ideas are co-opted for national growth. Of all the ways to put your ideas out there, I am afraid this is the wrong one.

#NeverGoingBack # ForwardEver #NationalRebirth

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